Genovis (GENO) Q1 2025 earnings summary

Executive summary

• Record quarter for enzyme business with 25% sales growth year-over-year, excluding license and divested antibody business revenue.

• Broad and balanced growth across geographies and product portfolio, with North America as the largest contributor.

• Strong operating profit and cash flow despite significant negative currency effects from SEK strengthening.

• Divestiture of antibody business in August 2024; current results focus on core enzyme operations.

Financial highlights

• Net sales SEK 32,292 thousand, up 25% year-over-year for enzyme business (excluding license/antibody), but down 19% including all segments.

• EBITDA SEK 8,906 thousand (enzyme business), up from SEK 8,291 thousand year-over-year; EBIT SEK 6,391 thousand, up from SEK 6,333 thousand.

• Profit for the period SEK 3,456 thousand, down from SEK 12,742 thousand year-over-year due to divestiture and currency effects.

• Earnings per share SEK 0.05, compared to SEK 0.19 in Q1 2024.

• Cash flow from operating activities SEK 10,652 thousand; cash and cash equivalents at period end SEK 175,410 thousand.

Outlook and guidance

• Continued strong customer activity into Q2 2025 despite macroeconomic uncertainty.

• Well-positioned to manage potential tariffs and limited exposure to NIH funding changes.

• Healthy liquidity and cash flow support ongoing investment and inorganic growth opportunities.

• Business opportunities and operational capacity assessed as good for 2025, despite external uncertainties.